domingo, 15 de octubre de 2017

VW lowballs cobalt producers, fails to secure supply for EVs

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Mining News Digest
Monday 16 October 2017
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In one of the clearest signs of a tight cobalt market, Volkswagen has failed to secure a long-term supply of cobalt used in electrical vehicle batteries.

Investors in Queensland Mining (ASX:QMN) got an unexpected surprise Monday morning after the company announced Friday it was selling its White Range copper, gold and cobalt project.

The metal has doubled in prices since late 2015 and investor demands are rising for this "hot commodity."

Monthly cargoes top 100 million tonnes for the first time ever.

Britain's remaining coal-fired power plants could enjoy an 11th-hour revival in the early 2020s despite the Government's drive to cut carbon emissions, if ministers choose not to risk raising household energy prices.

A waddle of penguins has stopped a $2.5bn (£1.9bn) mining project in Chile.

Local gold prices were trading around 29,760 rupees per 10 grams on Friday, up nearly a percent from last week.

"The Kobe Steel crisis is definitely helping other steel producers," Wunderlich Securities chief market strategist Art Hogan said.

In the previous editions of the Market Overview, we have already analyzed the relationship between gold and some major world currencies, … but what is the link between the Chinese yuan (officially: renminbi) and the yellow metal?

With the third quarter's earnings season now underway, the gold miners will soon join in and report their latest results

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